Market Update - Wednesday, April 8

- Oil has dropped below $100, gold has surpassed $4,800, and Bitcoin has surged to $71,000 - $72,000.

- The Trump administration announced a two-week ceasefire agreement facilitated by Pakistan, accepted by Iran's Supreme Leader Mojtaba.

- Iran has agreed to ensure safe passage for vessels through the Strait of Hormuz for two weeks, coordinated by the Iranian military.

- The Federal Reserve will release the minutes from the March FOMC meeting at 1 AM on April 9.

ETF Spot Update as of April 7:
- Bitcoin is down $142 million, with no data from BlackRock.
- Ethereum is down $48.2 million, with no data from BlackRock.
- Solana is down $15.3 million.

- The FDIC has proposed draft guidelines for banks issuing stablecoins, clarifying that tokenized deposits remain deposits.

- Morgan Stanley plans to list the Bitcoin ETF MBST on the NYSE today, April 8.

- South Korea requires crypto exchanges to automate their bookkeeping every five minutes to prevent incidents like those at Bithumb.

- CME will launch futures contracts for AVAX and SUI starting April 5, following the earlier launches for ADA, LINK, and XLM in January.

- Coinbase has received an Australian financial services license to offer crypto futures trading.